Gold price today September 4: Continues to set new records

(NLDO) – Gold prices today, September 4, continued to increase as US employment data weakened, boosting investors' demand for capital shelter.

Gold prices continue to heat up today

As of 6:00 a.m. this morning (Vietnam time), the price of gold on the international market reached 3,563 USD/ounce, up 33 USD compared to the lowest level in last night's trading session (3,530 USD/ounce).

Meanwhile, the price of gold futures for December delivery also recorded an impressive increase of 37 USD, reaching 3,630 USD/ounce.

The US employment report showed that the number of jobs in June fell to 7.437 million, lower than the previous month. This information reflects the US labor market is showing signs of slowing down, with hiring activity clearly decreasing, reinforcing investors' optimistic view on gold.

Other macroeconomic factors have also contributed to the gold price. Global bond yields have risen due to inflation concerns, government debt sales and fiscal discipline issues. The 30-year US Treasury yield is now approaching 5%, while bond yields in the UK, Australia and Japan have also risen sharply.

While rising bond yields are not typically positive for gold, in the current environment gold still benefits from its role as a safe-haven asset.

History shows that September and October are often difficult months for stocks and currencies, which makes investors look to gold as a safe haven.

In Vietnam, at the end of September 3, SJC gold was sold at 133.4 million VND/tael, while ring gold was at 128.1 million VND/tael.

Source: https://nld.com.vn/gia-vang-hom-nay-4-9-tiep-tuc-lap-ky-luc-moi-196250904062049917.htm